Market Opening - An Overview
SGX Nifty Futures were up 0.4% at 18258.50, indicating that the benchmark Indian stock indices are likely to open higher on Thursday.
Most Asia Pacific shares rose tracking the overnight gains in the US market on broad market optimism about economic growth. Japan’s Nikkei jumped 1.01% and Topix rose 0.31%. Australia’s ASX 200 index climbed 1.03%. Meanwhile, China’s CSI 300 was down 0.54% and Hang Seng dropped 1.43%.
Indian rupee rose 15 paise to 75.36 against the US dollar on Thursday.
HCL Technologies, Cyient, Den Networks, GTPL Hathway, Inox Wind, Inox Wind Energy, Mahindra CIE Automotive, Indiabulls Real Estate, Benares Hotels, Century Textiles, Ganesh Housing Corporation, Radhe Developers and Vikas Lifecare.
FII/DII trading data on Wednesday (13-10-2021)
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Stocks in News Today
Infosys: The IT bellwether beat street estimates as it reported a 4.3% sequential rise in its consolidated net profit to Rs 5,421 crore in the second quarter of FY22. The net profit was up 11.9% year-on-year. The company reported a 6.1% quarter-on-quarter growth in consolidated revenues to Rs 29,602 crore for the reported quarter, from Rs 27896 crore in the previous quarter. The consolidated revenue saw a growth of 20.5% compared with the corresponding period last year that stood at Rs 24570 crore. The company’s board also approved an interim dividend of Rs 15 per share.
Wipro: The IT major reported a 9.6% sequential decline in consolidated net profit for the Jul-Sep quarter to Rs. 2,930.7 crore. The company’s consolidated revenue for the quarter climbed 7.7% quarter-on-quarter to Rs. 19,667.4 crore. The decline in the company’s bottom line in the quarter was driven by higher tax payments and a sharp rise in costs.
Mindtree: The mid-sized IT services company posted a 57.2% rise in its net profit to Rs 398.9 crore in the second quarter of FY22, as against a net profit of Rs 253.7 crore in the year-ago period. The consolidated revenue from operations during the quarter increased 34.27% to Rs 2,586.2 crore, from Rs 1,926 crore in the same period last year.
Reliance Industries: The company said that its media arm was in dialogue to acquire ZEEL but did not proceed with the deal after talks between Invesco and the Zee promoters broke down. It also added that it respects all founders and has never planned for any hostile takeover in the past and hence it did not proceed further.
SpiceJet: The private airline said it has launched a new and revamped website with improved features to offer its customers superior experience. “The use of latest technology has helped ensure that SpiceJet’s system (revamped website) is fast, scalable and secure,” the airline said in a statement.
Dish TV: The company’s board has rejected YES Bank’s demand to conduct an extraordinary general meeting (EGM) to consider resolutions, due to regulatory limitations and absence of prior approvals from the government and lenders. The company said in a regulatory filing that the board considered the factual background, the legal advice and the opinions received from various legal experts.
Punjab National Bank: The public-sector lender cut interest rate on loans against gold jewellery and Sovereign Gold Bond by 145 basis points as part of its festive offer. The bank now offers loans against Sovereign Gold Bond (SGB) at 7.20% and loans against gold jewellery at 7.30%, the bank said in a statement.
Puravankara: The realty company plans to invest around Rs 420 crore for construction of two residential projects in Mumbai and Bengaluru. The builder is expects more than Rs 1,250 crore sales revenue over the next four years from these properties on the back of rising housing demand. The two projects are Provident Palm Vista located near Shil Phata, Mumbai with one million square feet of saleable area and Tivoli Hills’ near Devanahalli, Bengaluru having a total saleable plot area of about 1.4 million square feet.
Coal India: The company’s arm Mahanadi Coalfields (MCL) said it has further increased its business operations, with an average daily coal despatch crossing 5.1 lakh tonne in the current month, as it also keeps a close watch on the stock situation of dry fuel in thermal power plants in Odisha. MCL Chairman and Managing Director P K Sinha exhorted the area general managers and the heads of departments to optimise productivity in wake of higher demand for coal.
Shriram City Union Finance: Shriram Housing Finance has raised an additional Rs 300 crore equity capital from its parent company Shriram City Union Finance, taking its total equity capital to about Rs 1,100 crore. Shriram Housing Finance has set a target of crossing Rs 5,600 crore of assets under management (AUM) target by March.